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On January 23rd, the aforementioned Liberty Street Advisors filed a report with the SEC, detailing the acquisition of these shares. This immediately established a new position, and, rather dramatically, meant that nearly half (47.15%, if you’re keeping track, which, as investors, you undoubtedly are) of their reported assets under management are now tied up in this one particular company. It’s a level of concentration that suggests either extraordinary confidence, a temporary lapse in judgement, or a particularly compelling game of financial Jenga. (We suspect the former, but one must always consider the possibility of Jenga.)

The question posed – whether a mere two thousand dollars, entrusted to this fund, might blossom into a million – is not so much a calculation of pure return, but a contemplation of time’s vastness. It is akin to asking if a single seed, sown in good soil, can eventually shade a hillside. The answer, of course, is yes… but only if decades are allowed to pass, and the seasons are permitted their natural rhythm.

Both ETFs offer a way to get in on the precious metal game without actually wrestling a bar of gold or platinum. But the devil, as always, is in the details. Cost, performance, risk… it all adds up. A man’s gotta know where his money’s going, and why.

The proposition is simple, almost vulgar in its directness: transform a thousand dollars into sixteen thousand. A quintupling of capital. It is not a promise of instant gratification, understand. The market, that capricious and unforgiving deity, does not bestow riches upon the impatient. Rather, it demands a peculiar blend of faith, fortitude, and a willingness to endure the agonizing slowness of compound interest. This is not a sprint, but a pilgrimage – a decades-long journey through the wilderness of economic uncertainty.

Now, some of you might be thinking, “Hey, Ethereum Classic sounds awfully similar to Ethereum!” You’re not wrong. They’re like fraternal twins separated at birth… one went to Harvard, the other… well, let’s just say he spent a lot of time perfecting his yodeling. And let me tell you, Ethereum has been yodeling its way to the bank. Just look at this chart. (Yes, I realize charts aren’t usually hilarious, but bear with me. It’s a visual representation of disaster.)

The expense ratios for both VOO and IVV are identical, currently settled at 0.03%. This parity effectively removes cost as a primary differentiating factor. However, a divergence exists in assets under management (AUM), with VOO managing approximately $1.5 trillion compared to IVV’s $760.6 billion. While both figures denote substantial liquidity, the larger AUM of VOO could potentially translate to marginally tighter bid-ask spreads, although the practical implications for most investors are likely minimal.

The U.S. government, in a rare display of long-term thinking (or panic, same difference), is now obsessed with building a domestic rare-earth magnet supply chain. Because relying on another country for the stuff that powers everything from electric cars to military drones? Turns out that’s not ideal. A bunch of companies are scrambling to be the American magnet savior. And one of those companies is USA Rare Earth (USAR +9.07%). They’re promising a magnetic revolution. Or, at least, a lot of paperwork.

A more… pragmatic approach is to seek out companies that haven’t yet succumbed entirely to the delusion. Two such entities, currently exhibiting a degree of… reasonableness, are CVS Health and Merck. If you happen to have two hundred units of the local currency kicking about – and let’s be honest, who doesn’t have something they’ve misplaced the memory of acquiring? – these might be worth a glance.

Those investors who’ve been piling into technology, particularly the so-called “Magnificent Seven,” might find themselves needing a revised map. It’s a simple truth, really: a portfolio built on a handful of stars, however brilliant, is still a portfolio. And the wind, as any seasoned sailor knows, can change direction with alarming speed. Concerns about the labor market, geopolitical currents… these are not mere whispers; they are the swells beneath the surface, and they are making investors rather less enthusiastic about paying exorbitant prices for future promises.

Both funds offer a means of participating in the global charade, though with markedly different degrees of sophistication – or, perhaps, lack thereof. VEA, the more austere of the two, confines itself to the developed world – a realm of predictable stagnation and polite corruption. ACWX, with a touch of the gambler’s spirit, extends its reach into the emerging markets – a landscape of breathtaking opportunity and equally breathtaking risk.